#MediaSnack

#MediaSnack 115 BMW The ULTIMATE Pitch Mistake by ID Comms

How Do Agency Volume Deals Work: #MediaSnack 144 by ID Comms

On this week's #MediaSnack we look at breaking news that drinks giant Diageo has launched the first 'mega-pitch' of the year putting their $2bn media account up for tender and sending a shock to incumbent agency Dentsu Aegis Network who have held the account (within network Carat) for many years. Could this indicate a change of fortune for DAN who have had a strong business performance the last few years? Looks like Diageo will be the first major global brand to really stress test agencies organisational model and financial model this year. David discusses what he would be thinking as a Diageo exec and the likelihood that this pitch is prompted not just by financial imperatives but also a desire to design a new blueprint for media agency scope and service. Next we talk about “The Most hated Man In Media” the one and only (and infamous) Mr Jon Mandel, the ex-CEO of MediaCom in US who was arguably the catalyst for the current ANA media rebate investigations and task force after his revealing presentation at the ANA’s Masters of Media conference in 2015. His recent interview with Nic Christensen at Mumbrella makes for entertaining reading (unless you’re a media agency CEO I expect) and Jon raises some new perspectives worth reviewing. It ends with a sad indictment of media agency management that they risk "killing the industry" with their short-term thinking, we are inclined to agree. Finally we mention more talk of trust and transparency from two industry stalwarts, Keith Weed the CMO of Unilever and Michael Roth, CEO of IPG who in the last week or so have both made public statements on the importance of trust and Transparency to their respective businesses. We also link to the recent ID Comms 2016 Media Transparency survey and Media Transparency webinar, check them out.

On this week’s #MediaSnack we consider if identifying, organising and motivating the best Media Talent is the major focus for marketers now. We’ve highlighted many times the needs for brands to take back more control of their media investments and the way to do that is to build the proper resources (people, processes and tools) internally.We reference the recent ANA Media Transparency Guidelines which make very clear recommendations, in line with ID Comms best practice advice, for marketers to implement. They note (correctly) that advertisers typically lack the infrastructure, resources and staff to effectively manage today's media challenges. We discussed on last week's #MediaSnack the role of a Chief Media Officer, which is to oversee these resources to ensure that there is proper governance over media investments. We strongly advocate not just hiring great people but to ensure there is an internal media community with a commitment to continuous incremental improvement. Considering what the best media clients do, David shares his insights from his time as Media Director of Nike and Coca-Cola. The best media clients know they have the right resources, organised n the right way but they always improve. They will see media more strategically as an investment in company growth not simply an executional spend, with clear KPIs internally understood and the media agency aligned to the same or very similar KPIs. The best media clients also typically oversee an internal media community with responsibility to continually improve media capabilities internally through training and best practice sharing. Next Tom considers the implications for how brands can make sure they are working with the best media agency Talent. It boils down to a few key principles; firstly to be able to describe the services you want from a media agency, so that the right talent can be identified which is relevant to your needs and will make an impact to your KPIs, next the agency talent should broadly reflect your internal structure for media - is this just local, market by market or do you have global or regional hubs and centres of excellence in media - the agency must mirror your organisation; finally and most importantly you have to actually pay for Talent, especially if you want that talent to stay working on your business for the long-term. Paying for agency resource in a transparent and fair manner ensures that you’ll get access to the best media talent in your media agency.Finally, we share details of an exclusive marketer-only event we are hosting in London on 8th September to discuss key themes around Media Talent. We already have many major brands signed up to attend, space is strictly limited so if you are a marketing or procurement leader and interested to attend and meet other like-minds to discuss Media Talent please get in touch quickly below and we will send you details of how to register. Looking forward to seeing you there. 

Mark Ritson, Founder of the Marketing Week Mini MBA, joins host Tom Denford to discuss the state of today’s media, including:

- This year’s biggest problems in media and marketing
- The media mistakes that are still being made today
- Who’s been winning (and NOT winning) in marketing and media
- The role of AI in the future of marketing and advertising

--

Links
#MediaSnack MEETS with Prof. Mark Ritson (2017): https://www.youtube.com/watch?v=2xADmpd3J8U 

The Marketing Week Mini MBA: https://mba.marketingweek.com/ 

Follow Mark Ritson on LinkedIn: https://www.linkedin.com/in/markritson/ 

--

Enjoyed this episode? Make sure to subscribe to #MediaSnack for more media & advertising insights.

Don’t forget to leave a review and follow us to stay updated with the latest episodes.

🌐 YouTube: https://www.youtube.com/@mediasnack 
🟢 Spotify: https://open.spotify.com/show/7FFN3ME1ZwVAiDhGAMRc66 
🍎 Apple Podcasts: https://podcasts.apple.com/us/podcast/mediasnack-podcast/id1072144223 

--

#MediaSnack is brought to you by ID Comms, the global media consultancy dedicated to helping brands achieve better media results. Want to use media to drive brand growth? Visit https://www.idcomms.com/

On this week’s #MediaSnack we mark the one-year anniversary of the landmark Media Transparency Report published by the Association of National Advertisers on 7th June 2016. In the last few weeks, we’ve been counting down to this date and considering the various impacts and changes that have been triggered by the report. This week we devote the episode to Media Technology and consider what’s happened in the previous 12 months and what are likely to be the changes we will see for the future. It is hard to think of anything that is transforming marketing and media more than technology, and the last year has seen some dramatic changes both in the technology market and also interestingly the attitude and behaviours of marketers towards data and technology. We discuss how data and analytics are no longer a fringe consideration or something which marketers are happy to automatically outsource to third parties, we have observed and consulted with many advertisers this year looking to get control of their own data, build analytics capabilities and start to understand the impact that media investments make on business outcomes. Tom and David can see a clear trend for advertisers wanting these skills to be far more within their own control, blending customer data, marketing campaign data and their own business KPIs to have (sometimes for the first time) a perspective on the VALUE of media not just the price. This has a beautiful knock on effect into how media will be bought and sold in the future, because once the buyer (the advertiser) knows the value of media then they know clearly the price they are prepared to pay for it. In a world where technology is also transforming the media buying market, making it more transparent and subject to supply and demand (auction) pricing, then the buyer demand can properly set the price. We expect that technology will slowly revolutionise the media buying market to a point where is becomes fully open, democratic and transparent – a simple auction based marketplace where buyers and sellers interact to set a price defined only by supply and demand, rather than a vendor’s rate-card or agency mark-up. In that world, buying at scale ceases to give competitive advantage, whilst buying smarter (by using data and analytics) is where competitive advantage in media will lie. In the last year we have also seen massive progress in accountability and measurement for media investments. The ANA report triggered more interest amongst senior marketers for media dollars to be held to account and that has required better standards and processes for measurement. The most vocal advocate for improved measurement has been Marc Pritchard at P&G who has suggested that the company will not be placing media dollars into companies that cannot be measured according to third party verification and consistent standards. This has led many vendors and technologies to seek accreditation from companies like the Media Rating Council (MRC). We have also seen more consistent use of viewability standards and platforms like Google and Facebook opening up to third party audit and not “marking their own homework” The greater demand for transparency and disclosure has lead to changes across the media supply chain, with many of the large agency groups also making moves to provide more transparency operating models, notably Havas’ recent launch of a fully disclosed media buying model, which has met with mixed support from across the industry but a sign that agencies are listening to the new demands for accountability and transparency from advertisers.

**REGISTER FOR WEBINAR**Want to know WHAT the speech by Marc Pritchard P&G means for your business? Register NOW for an exclusive ID Comms MediaSnack Webinar on 15th Februaryhttps://app.webinarjam.net/register/25846/53a44efeb9----On this week's #MediaSnack we consider the announcement by P&G to launch a media agency pitch in some key European markets including U.K., Germany, Austria, Switzerland, Nordics and Ireland with estimated media budgets across the region around $500m. We expect the major agency groups to be invited, certainly WPP, Omnicom, Publicis and DentsuAegis and this will be one they will all want to win, for different reasons. The scale of the pitch is obviously significant but the reason it's likely to be one of the more interesting pitches of the year is that it comes at a time when P&G have gathered a lot of attention following a speech by Marc Pritchard their Chief Brand Officer. Marc delivered ”the most important marketing speech of the last 20 years” (according to Professor Mark Ritson) at the IAB leadership conference in New York. You can view the #MediaSnack perspective on the speech inEpisode 63https://youtu.be/JeTiPNvQSL8So the significant impact of this P&G pitch is that it will test agencies under this intense scrutiny. The wider implications are that the industry will inevitably regard the winner of the P&G account to have delivered to Marc Pritchard's high standards, and by implication that the losing agencies fell short of expectations. For relative ‘newbie’ Hearts & Science this will be a major test too. A win for them really validates that new media agency model and will set a new blueprint for media agencies and other groups to follow. A loss could be regarded as catastrophic to Hearts & Science's ambitious international expansion plans and will surely be pounced on by the other agency groups of an indication that Hearts & Science has an Achilles heel after all. A win for one of the other groups would help them position themselves as “more transparent” than the others, whether fairly or not. Such is the impact of having a P&G endorsement in your agency. It is possible that the other agency groups will use the P&G brief to forge their own disruptive media agency model, much in the way Omnicom had the opportunity to do in 2016 with P&Gs brief in US, which as we all know created Hearts & Science, the most successful media agency launch of all time. It is under the most intense pressures that diamonds are formed after all. For other advertisers planning media pitches in Europe in 2017, they will want to watch P&G closely. These scale of pitches like this, which will attract such focus from the agency groups, presents a risk as agencies apply all their resources to win P&G. This means not just good pricing, added value and other commercial elements, but also the agency’s top talent, most strategic creative thinkers and the best innovations. Everyone will be in the queue behind P&G for the next couple of months. ID COMMS WEBINARWednesday 15th February 10am EST / 3pm UK / 4pm CETJoin us for an exclusive webinar in which we look into the action plan of Marc Pritchard’s Media speech. We will look at some immediate, medium and long-term actions you might want to consider taking in response. We will be joined by an expert panel who can share perspectives on viewability, digital measurement, TAG certification and contract transparency. We will allow time for Q&A so sign up, register your place and please submit questions!REGISTER HERE:https://app.webinarjam.net/register/25846/53a44efeb9

When media pitch is a bad idea - #MediaSnack 132 by ID Comms

Many of the world's most successful marketing teams have a secret...
They have internal MEDIA COUNCILS dedicated to sharing innovation, best-practices and good governance of the company's media investments. It's no coincidence they also tend to be the best clients for their agencies.

Here's the #MediaSnack alternative perspective on what makes a successful internal media community plus we share THREE GREAT TIPS for media and procurement leaders on how to set up a successful media council in your own company.

#MediaForGrowth

#MediaSnack is brought to you by ID Comms, the award-winning growth consultancy specializing in media and advertising. Advisors to the world's most ambitious brands.

How can you make your company the best at media?

What is the roadmap and actions you need to take to transform the complex media operations of a major company?

How do you inspire success and drive change within a giant global marketing organization like Mars Incorporated?

These are just some of the amazing insights shared in this #MediaSnack Meets with Rob Rakowitz the Global Media Director of Mars, one of the world's largest advertisers. 

We get tips from Rob on:

Rob also shares his huge passion for promoting 'Media Sustainability' to protect the long term health of the global advertising industry.


Episode Links:

Rob Rakowitz LinkedIn

Rob Rakowitz Twitter

The Global Alliance for Responsible Media

Truth, Lies & Advertising by Jon Steel

Hooked by Nir Eyal

Space Race by Jim Taylor

Bob Hoffman, aka The AdContrarian

Scott Galloway 'The FOUR'

Rob Norman Twitter